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Financial Restructuring and Economic Growth in Thailand

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  • Sajid Anwar
  • Desh Gupta

Abstract

After a sharp downturn in 1998, the Thai economy has up until 2003 registered a strong growth. There has also been a significant increase in exports as a percentage of the gross domestic product (GDP). While examining the performance of the Thai economy, this paper pays special attention to the factors that contributed to the Asian financial crisis of 1997-1998. Owing to increased financial rather than trade liberalization facilitated by improvements in communications technology, it is virtually impossible to eliminate the possibility of crises in the future. Through sound macro-economic management polices it is however possible to reduce the frequency of crises and their subsequent impact on the real economy. This paper suggests policies that may help to reduce the risk of similar crises in the future.

Suggested Citation

  • Sajid Anwar & Desh Gupta, 2006. "Financial Restructuring and Economic Growth in Thailand," Global Economic Review, Taylor & Francis Journals, vol. 35(1), pages 113-127.
    • Handle: RePEc:taf:glecrv:v:35:y:2006:i:1:p:113-127
    DOI: 10.1080/12265080500537532
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    References listed on IDEAS

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